Jerome Powell: “I think it's--you know, the real thing is the primary market facility, which is where we were going to make loans to…”

If we move too quickly, then we may leave the inflation job unfinished and have to come back later and finish it.

We do not take into account the fortunes of any political party or politician.

The Fed’s credibility would be lost.

Without the ability to pay interest on reserves, the Fed would lose control over rates